AIG Alleges Ex-Employees Stole Information

Law360, New York (February 1, 2006, 12:00 AM EST) -- Insurance giant American International Group is headed back to court after filing a lawsuit against the former chief of one of its subsidiaries, alleging that the ex-CEO and several other former employees violated their noncompete agreements by starting their own private equity fund.

The suit claims that Peter Yu, the former president of AIG Capital Partners, and William Jarosz, AIG Capital’s former general counsel, broke into AIG’s computer network and violated their noncompete, nondisclosure agreements by launching Cartesian Capital Group LLC.